Key Performance Indicators (KPIs) mean a lot of things to a lot of organisations. The same way pilots monitor flight instruments or coaches track statistics, business leaders must also rely on metrics to guide their decisions and measure their success — especially when it concerns accounts payable (AP).

The AP department, once viewed as a peripheral back-office function, is now one of the central drivers of business profitability. In an era of supplier shortages, demand fluctuations, increased operating costs and liquidity pinches, the influence AP has on the overall health of an organisation is only continuing to grow — and as AP’s importance expands, so too has the spotlight on its people and processes. KPIs are a simple and effective way to make sure each touch point is optimised and every user is held accountable.

 

The problem is, AP decision makers don’t always know if they’re tracking the right KPIs and often lack the tools to do so effectively. With 55% of AP leaders now putting improvement of AP reporting and analytics at the very top of their priority lists, these metric-tracking tools are proving their importance as we look to the future.
 
This ebook is for anyone wanting their AP department to realise its full potential. As you’ll learn, KPIs, when used correctly, are a transformative tool to do just that.